Economy Of Puerto Rico - Puerto Rico Information

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Economy Of Puerto Rico
Puerto Rico Information - Country Guides

Economy overview	Puerto Rico has one of the most dynamic economies in the Caribbean region. A diverse industrial sector has far surpassed agriculture as the primary locus of economic activity and income. Encouraged by duty-free access to the US and by tax incentives, US firms have invested heavily in Puerto Rico since the 1950s. US minimum wage laws apply. Sugar production has lost out to dairy production and other livestock products as the main source of income in the agricultural sector. Tourism has traditionally been an important source of income, with estimated arrivals of nearly 5 million tourists in 1999. Growth fell off in 2001-03, largely due to the slowdown in the US economy.
GDP	purchasing power parity - $65.21 billion (2004 est.)
GDP - real growth rate	1.6% (2004 est.)
GDP - per capita	purchasing power parity - $16,800 (2004 est.)
GDP - composition by sector	agriculture: 1% industry: 45% services: 54% (2002 est.)
Investment gross fixed
Population below poverty line	NA
Household income or consumption by percentage share	lowest 10%: na highest 10%: na
Distribution of family income - Gini index
Inflation rate consumer prices	6.5% (2003 est.)
Labor force	1.3 million (2000)
Labor force by occupation	agriculture 3%, industry 20%, services 77% (2000 est.)
Unemployment rate	12% (2002)
Budget	revenues: $6.7 billion expenditures: $9.6 billion, including capital expenditures of na (fy99/00)
Public debt
Agriculture products	sugarcane, coffee, pineapples, plantains, bananas, livestock products, chickens
Industries	pharmaceuticals, electronics, apparel, food products, tourism
Industrial production growth rate	NA
Electricity production	20.9 billion kWh (2001)
Electricity production by source	fossil fuel: 99.2% hydro: 0.8% other: 0% (2001) nuclear: 0%
Electricity consumption	19.44 billion kWh (2001)
Electricity exports	0 kWh (2001)
Electricity imports	0 kWh (2001)
Oil production	0 bbl/day (2001 est.)
Oil consumption	190,000 bbl/day (2001 est.)
Oil exports	NA (2001)
Oil imports	NA (2001)
Oil proved reserves
Natural gas production	0 cu m (2001 est.)
Natural gas consumption	630 million cu m (2001 est.)
Natural gas exports	0 cu m (2001 est.)
Natural gas imports	630 million cu m (2001 est.)
Natural gas proved reserves
Current account balance
Exports	$46.9 billion f.o.b. (2001)
Exports commodities	chemicals, electronics, apparel, canned tuna, rum, beverage concentrates, medical equipment
Exports partners	US 90.3%, UK 1.6%, Netherlands 1.4%, Dominican Republic 1.4% (2002 est.)
Imports	$29.1 billion c.i.f. (2001)
Imports commodities	chemicals, machinery and equipment, clothing, food, fish, petroleum products
Imports partners	US 55.0%, Ireland 23.7%, Japan 5.4% (2002 est.)
Reserves of foreign exchange gold
Debt external	NA
Economic aid recipient	NA (2001)
Currency	US dollar (USD)
Currency code	USD
Exchange rates	the US dollar is used
Fiscal year	1 July - 30 June

Puerto Flag Map Of Puerto Rico

Economy Of Puerto RicoPuerto Rico Information - Country Guides

Economy Of Puerto Rico
Puerto Rico Information - Country Guides